Wen Xinxiang of the people's Bank of China: virtual currency has anonymity and is easier to become a money laundering tool for illegal activities
Wen Xinxiang, director of the payment and Settlement Department of the people's Bank of China, said at the China payment and clearing forum today that in recent years, the rapid development of virtual currency represented by bitcoin has attracted extensive attention from regulatory authorities of various countries. So far, the total market value of bitcoin has reached US $800 billion, and the overall market value of stable coin has exceeded US $120 billion. Wen Xinxiang said that using virtual currency to transfer illegal funds across borders is a typical scenario.
This text is a result of machine translation.
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